Cargo Insurance May Cover Losses From Suez Canal Delays

Law360 (April 14, 2021, 5:46 PM EDT) -- Now that the container ship the Ever Given has been freed from the banks of the Suez Canal, a potential global economic crisis has been averted. But for some, substantial economic damage has already been done. Their attention may soon turn to finding ways to secure compensation to try to make up for the losses they suffered during the nearly week-long period when traffic in the canal came to a halt.

One potentially overlooked source of compensation is a standard cargo insurance policy. To be sure, damages from delay are not typically covered under these policies. Insurers learned a lesson in...

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